Stratford: the key points

  • by Staff Writer
  • Friday, 22nd March 2013

West Ham United's move to the Olympic Stadium was finally ratified this morning.

Here's a list of the key points revealed during the press conference...

When Will it Happen?
Although the conversion is due to be complete in time for the 2015 Rugby World Cup, the club are due to move operations the following year in 2016 in time for the start of the 2016/17 season. The current 80,000 capacity will be reduced to circa 54,000.

The Cost of Conversion
Although details of the total costs involved in converting the stadium were never fully revealed, it is understood that West Ham will provide just £25million towards the estimated bill of £175million. The rest of the costs will be payed by Newham Council (£40million loan), the LLDC (around £20million) and the taxpayer via the Mayor's annual budget.

The Cost of Renting the Stadium
West Ham United will pay £2million rent per annum. However should the club be sold to new owners, a percentage of any profit from the sale will be paid to the LLDC. The LLDC also retain the right to cancel the agreement, although under what circumstances this may happen were not revealed.

UEFA Compliant
The conversion plans will ensure the stadium receives Category 4 status from UEFA - the highest rank available. Only category 4 stadia are considered for top-class events such as the Champions League, Europa Cup and international tournament matches - although no Champions League Final has bee held at a venue with less than 60,000 capacity, effectively ruling the OS out.

No Running Track?
Well, not quite - it's simple being covered by retractable seating. David Sullivan claimed that the fans in the lower tier would be closer to the pitch than some fans at Arsenal's Emirates Stadium.

Naming Rights
The rights to provide a name for the stadium will be sold. It is unclear who will benefit financially from this arrangement at present.

Profit Share
West Ham have agreed to share the revenue from the stadium with the taxpayer. Boris Johnson described the stadium as a "money making machine".

Free Tickets
The club will provide up to 100,000 free tickets per season to local children in order to fulfil their committment to "affordable family football". How these will be made available - and to whom - was not explained.

No More Debt
One condition of moving to Stratford is that the club must clear the majority of their existing debts (of approximately £80million) as once having sold the Boleyn Ground, West Ham has no tangible asset to secure any further loans on. This will mainly be funding with the proceeds from the sale of the club's Green Street home.

What's To Stop It Happening This Time?
In short, little to nothing - although Orient chiarman Barry Hearn has confirmed that he intends to continue to seek a judicial review of the decision to award use of the stadium to West Ham.

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